City Sees $423M in Stimulus for Housing

NEW YORK CITY-The latest package of federal funding through the Obama administration’s stimulus plan is $423 million that will be used to repair and retrofit public housing throughout the five boroughs, city, state and federal officials announced on Sunday. These 70 shovel-ready projects, which the Bloomberg administration says will create or preserve 3,255 jobs, are in addition to more than $500 million in infrastructure improvements announced in March that will be funded through the American Reinvestment and Recovery Act.

In a statement, Shaun Donovan, US Secretary of Housing and Urban Development, says the $423 million in funds will allow the New York City Housing Authority to “start creating jobs, conserving energy and ensuring safety for NYCHA residents.” Of the $423 million in federal funds, the NYCHA will use nearly half, or $209 million, to make public housing more energy efficient.

For example, NYCHA plans to purchase and install approximately 56,000 Energy-Star rated refrigerators in 53 developments throughout the five boroughs, at a cost of $22 million and a savings of $1.4 million per year in energy costs. Other green renovations planned by the NYCHA will focus on roof and brick replacement and upgrades to heating, plumbing and electrical systems.